JACKSON, Miss., January 29, 1998 . WorldCom, Inc. (WCOM) today
announced that at a special meeting of stockholders of Brooks Fiber
Properties, Inc. (BFPT) held in St. Louis, Missouri, stockholders
of Brooks Fiber approved the proposed merger between the two
companies. Under the terms of the merger agreement, each share of
Brooks Fiber common stock will be converted into the right to
receive 1.85 shares of WorldCom, Inc. common stock, and will be
accounted for as a pooling of interests transaction. The merger is
expected to be effective today at 11:59 p.m.
Brooks Fiber Properties, Inc., headquartered in St. Louis,
Missouri, is a leading full service provider of competitive local
telecommunications services in cities across the United States.
With networks operational or under construction in 44 U.S. cities,
the company provides its customers with advanced and reliable
high-capacity voice, video, data and other enhanced
telecommunications services.
WorldCom is a global telecommunications company. Operating in
more than 50 countries, the company is a premier provider of
facilities-based and fully integrated local, long distance,
international and Internet services. WorldCom.s subsidiary, UUNET
Technologies, Inc., is an international provider of Internet
services with over 1,000 Points of Presence (POPs) throughout the
United States and in Canada, Europe and the Asia-Pacific region.
WorldCom.s World Wide Web address is http://www.wcom.com. The
common and depositary shares of WorldCom trade on the Nasdaq
National Market (U.S.) under the symbol WCOM and WCOMP,
respectively. On November 10, 1997, WorldCom announced a difinitive
merger agreement with MCI Communications Corporation to form a new
company called MCI WorldCom. The company expects the merger to
close in mid-1998.
